Sends letter to the federal government requesting reconsideration
Queens, NY – Senator Michael Gianaris is fighting the passage of a drastic increase to electricity rates in New York City. He is calling for the federal government to reconsider its decision to increase electricity rates by 12 percent for residents and by 17.5 percent for businesses Such a rate hike would cause major increases to monthly electricity bills, which could hurt the ability of residents and businesses to pay their expenses. He has sent a letter to the Federal Energy Regulatory Commission (FERC) requesting that they re-evaluate the necessity of this increase.
The New York Post wrote an article today on legislation Senator Gianaris has authored and will introduce to the Senate in response to the electricity rate increases. His bill is called the Ratepayer Protection Act.
A Queens lawmaker wants to pull the plug on the looming electricity rate hike.
The city's private power-plant operators would have to return every extra penny they collect from a rate increase approved by a recent federal ruling to households and businesses, according to state legislation being formulated by Democratic state Sen. Michael Gianaris.
Queens Chronicle wrote an article about the electricity rate increases and power companies' property tax cuts that will affect all New Yorkers. I am calling on the federal government to reverse this decision.
Federal regulators are reconsidering a decision that could hike electric rates in the city 16 percent this year for residential customers and 21.5 percent for businesses, though there’s no guarantee they’ll change their minds, a state senator from Queens said this week.
Targets Companies That Unfairly Raise Electric Rates
Queens, NY – Senator Michael Gianaris announced that he will be introducing legislation to safeguard New Yorkers against unfair increases to electricity bills. The proposal, dubbed “The Ratepayer Protection Act” eliminates property tax exemptions and abatements for power-generating corporations that unfairly raise their rates. The legislation was introduced in response to the Federal Energy Regulatory Commission’s (FERC) decision to approve a rate hike by power generating companies in New York.
Recently, FERC approved the 12% increase in electricity rates for New York City residents and a 17.5% increase for New York City businesses, which would be implemented on May 28, 2011.
The Post reported that following the announcement of Governor Cuomo's proposal regarding tax abatements for power companies, Senator Schumer has sent a letter to energy companies around the state asking "why the firms believe their tax breaks are in danger and how much of their windfall would go to stockholders. " I have also written similar legislation to the Governor's bill.
Sen. Chuck Schumer yesterday posed four tough questions to operators of the state's private power generating plants -- as consumers and politicians battle shocking rate increases the companies are planning for this summer.
This article in the Times Ledger was written just after tax abatement legislation that hurt ratepayers passed in the Senate on Monday. On Wednesday, however, legislation that helps prevent drastic rate hikes was passed by the Senate. I am happy my fellow Senators and I were able to stand up for ratepayers across the state.
State Sen. Michael Gianaris (D-Astoria) condemned a bill passed in the Senate Monday to give tax abatements to power generators, saying it would provide them with an unfair tax benefit.
Following the announcement that the Federal Energy Regulatory Commission has reversed its decision to allow power generating companies to massively increase their electric rates, Senator Gianaris said, "I'm glad this misguided rate hike has been reversed and proud that the State took swift action to save ratepayers millions of dollars. Governor Cuomo deserves thanks for working closely with those of us who were alarmed by the FERC decision to resolve the problem."
The Post wrote about FERC's rescinded rate hike for ratepayers' electric bills. In a formal statement, Senator Gianaris said, "I'm glad this misguided rate hike has been reversed and proud that the State took swift action to save ratepayers millions of dollars. Governor Cuomo deserves thanks for working closely with those of us who were alarmed by the FERC decision to resolve the problem."
Federal regulators yesterday officially overturned an order that would have zapped the city by boosting residential electric bills by 10 to 12 percent.
The Federal Energy Regulatory Commission acted barely 24 hours after Albany lawmakers passed a law making property-tax breaks for electricity generators permanent.